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20121027
20121104
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Search Results 0 to 49 of about 54 (some duplicates have been removed)
. >> during the gm bailout there was trouble with the biggest parts provider delphi. that prompted a lot of nervous questions from delphi retirees union and nonunion. that's how president obama describes the u.s. auto bailout on the campaign trail. in 09 teetering gm got billions. but the deal would not work without labor piece and the united auto workers wanted delphi members taken care of. delphi was and is gm's top parts supplier. they were wading through bankruptcy canceled employee pensions handing off the remains to a federal government a nightmare for delphi retirees. >> my pension went from 2,550 dollars a month to the government paying $335 a month. >> the folks at the international union wanted help. if gm restored the union's delphi pensions the uaw would go along with the bailout. gm agreed. >> when you heard the union pensions are being topped off you would think everybody would be treated fairly and equally. that was not the case. >> 20,000 salary delphi retirees got no pension bailout. many suspect they know why. >> the union had political connections and we do not. >> tha
what was happening. all of us in the auto industry were looking at gm and chrysler. we sought to companies on the verge offailure that were going to take down the entire supplier industry. we also saw an industry that had to be restructured. bill ford is my hero. he fired in self. they put forward in a good place, so they did not have to be rescued. they laid out a map for what had to be done, and everybody had to sacrifice. neil: and the end justifies it because things are back. and is starting with president bush. i'm not criticizing, but it did not lead to a slippery slope. >> once again, the difference between this was, this was not a bailout. a bailout is when you give money to the existing guys. restructuring. the key thing that obama did -- neil: the, the bankruptcy and restructuring. >> but the restructuring was driven by the president's team. a bankruptcy court would never have done that by itself, and it is the reason i don't like the mitt romney passive approach, just turn over to the courts. it would not have moved fast enough. it would not have taken the action t
obama of helping chrysler and gm move jobs to china. chrysler says it is a big lie. gm says it is a big lie. the "detroit free press" says it is a big lie. does mitt romney even care about the truth at all? obviously not. we'll get into that and a whole lot more here on the "full court press." but here she is lisa ferguson out in los angeles. >> good morning everyone. mitt romney is headed to florida today to host events with senator marco rubio and jeb bush. he starts off the date in tampa and then heads to coral gables and jacksonville. paul ryan will be campaigning in wisconsin. some are calling the pair's reemergence on the campaign trial after supposedly taking time out out of respect for the hurricane victims. romney's official reason for the event yesterday was to collect donations for storm victims, but it sure looked a lot like a campaign, a big american flag on the wall campaign music, crowds and the press were invited. voters had to wait to drop off their donations until romney arrived to collect them himself. john mccain even went as far as to blas
. that drew another company into the fact check, gm, which had been saved of course by the auto bailout. a gm spokesman telling the press, "we've clearly entered some parallel universe." also from gm, "at this stage we're looking at hubble telescope-like distances between campaign ads and reality." but here's the thing. it is one thing to lie about your record or even your opponent's record. but what mr. romney has done here is to lie about a third party. in that third party's back yard. and you can tell that mr. romney's ohio lie about jeep is not going to work in ohio in part because ohio voters follow the car industry like it's the local football team. the romney campaign's running these ads in youngstown, for example. take a look at the "youngstown vindicator." the kind of reporting they were doing back in july on a local plant. "i think part of this relates to our focus on quality and make sure parts are right so we don't pass problems further up the line," said somebody's cousin. here's the youngstown paper in august on a plant expanding. "good news would be welcomed at the plant where
quarter in the u.s., and it lost money in europe. the bottom line for g.m. in the third quarter was stronger than ancipated. earnings per share totaled 93 cents, well above the 60 cents per shares expected. g.m. returned to profitability in south america and china profit jumped 10%. shares jumped 9.5% as volume tripled. g.m. hopes to stop losing money in europe by the middle of the decade. yesterday, ford told us it expects its european business to begin turning around in about a year. today, ford shares were also on the move after its strong earnings report during the market closure. ford rallied 8.2%. over $11 per share for the first time since may. some merger action in the clothes and fashion industry hit the tape with p.v.h. buying warnaco group, that's the company licensing calvin klein, speedo and other brands. warncstock shot up almost 39%. the dl tols $2.8 llion in cash and stock. the buyer, p.v.h., rose 20% as a big sign of market confidence in the deal. and u.s. vitamin maker schiff nutrition has agreed to be bought by bayer, pushing schiff stock up 46%. the five most
about the other day. >> some gm numbers are expected in about an hour. gm is expected to earn 60 cents a share on revenue of $35.7 billion. gm, don't they have loss -- i mean, if they can't make money at this point, they ought to be able to because i don't think they have to pay taxes again. that's another way we sort of don't get our money out of gm. now we'll be watching facebook. about 230 million shares held by ples became employees became eligible for sale on sunday. >>> equity trading will try to get back to normal today after superstorm sandy forced the new york stock exchange and the nasdaq to wait out the storm and stay close from the last two days. if investors areomin back today, they may be wondering whether there's going to be extra volatility. ira harris joins us right now from the cme group in chicago. what's the sense you get? i've actually been surprised by how orderly all of this has been to date. >> it has been orderly, but i think that's because we've been taking our reads off of the european markets, which have held up pretty well. better than well. and where we ar
gm. >> but if they didn't there be $25 billion in the whole. john: they're not paid back. >> again they took that money from taxpayers said the economy is worse. of industry may be ohio or detroit to save jobs but what about tennessee, indiana where other car manufacturers are worse off? john: honda or toyota in america? it is not like the auto industry was. >> not at all. >> it is not clear gm or chrysler would not be saved. airlines go through bankruptcy as a fly there is a high probability they would still exist to be scaled down. >> we lose manufacturing jobs. >> politicians love that like a fetish making phoenix to drop by your foot to is more a valuable than services. the mayor can economy is service based. they are devoted to make things you cannot necessarily say. john: that is not real. but a dollar earned and services is not less by a bold and manufacturing. it is not true. manufacturing is doing well. it has increased but the politicians don't get it. >> they don't say it. it is big in the swing states. politically. how bad economics the government got you to replace my
the bloom to consumers to seven government had to save gm. >> but if they didn't there be $25 billion in the whole. john: they're not paid back. >> again they took that money from taxpayers said the economy is worse. of industry may be ohio or detroit to save jobs but what about tennessee, indiana where other car manufacturers are worse off? john: honda or toyota in america? it is not like the auto industry was. >> not at all. >> it is not clear gm or chrysler would not be saved. airlines go through bankruptcy as a fly there is a high probability they would still exist to be scaled down. >> we lose manufacturing jobs. >> politicians love that like a fetish making phoenix to drop by your foot to is more a valuable than services. the mayor can economy is service based. they are devoted to make things you cannot necessarily say. john: that is not real. but a dollar earned and services is not less by a bold and manufacturing. it is not true. manufacturing is doing well. it has increased but the politicians don't get it. >> they don't say it. it is big in the swing states. states. politic
the evidence when we return. >> who will do more for the auto industry? not barack obama. obama took g.m. and chrysler into bankruptcy and sold chrysler to italians who will build jeeps in china. chct republicans are liars. now i don't say that flippantly or say it because i'm partisan. anybody who watches the show knows i've got a lot of issues with democrats. i say it because it's true. it is demonstrably true. now a lot of the rest of the media says well, no, no, no, if i say the republicans lie from time to time, i have to say the democrats lie from time to time and i have to call it even but it ain't even! so mitt romney is in a lot of trouble in states like ohio because he wanted to let detroit go bankrupt and there is a lot of jobs that were affected in ohio. and those folks might not have jobs if we went in mitt romney's direction. s what's he going to do before the election? he's going to have highly deceptive ads running in ohio like this one about chrysler. >> announcer: barack obama said he saved the auto in
misleading and slammed by gm and chrysler. let me play it. >> they're running the most scurrilous ad in ohio. i want you to listen. one of the most flagrantly dishonest ads i can remember in my political career. >> so mark, a spokesperson of gm said it's completely untrue, to su miz the statement here in front of me. but this is about ohio, the ad about ohio and president obama still leads in ohio. >> the pushback you are seeing of general motors as well as chrysler is pretty extraordinary in a presidential campaign with major companies basically say that one campaign is being inaccurate in the tv ads. tamron, this has to do everything with ohio. this has all to do with the auto bailout and a reason president obama is doing better with white voters in ohio than might be in places in the south or battlegrounds like in virginia and florida, has to do with the auto bailout. getting support from a lot of people whose jobs are tied to the auto industry. another thing benefiting president obama has to do with the fact labor and the politics of labor very big flash points in the last couple of year
when gm was getting bailed out delphi was going through bankruptcy and there were lots of employees salaried and union who were asking nervous questions about their pensions. >> how is our healthcare looking after retirement? how is our pension looking? everything is good. pension plan is well funded. >> we were told that everything was secure in your pension, and you plan on that for the rest of your life. >> until like its dayton area plants delphi shut down the employee pension plans handing them off to the federal government. >> when my pension went from 2,500 $50 a month guaranteed to the federal government saying you'll get $385 a month. >> and you spend years and years making your financial plan for retirement and going through all the numbers and wanting to live like you wanted to live and with your children and grandchildren, and then it gets taken away from you in a heartbeat. i feel absolutely betrayed. >> enter delphi's biggest auto parts customer gm and the obama administration's eagerness for a quick restructuring of the automaker, gm wanting labor peace agreed to rest
to help the auto industry. he is supported by lee iacocca and the detroit news. obama took gm and chrysler into bankruptcy and sold chrysler to italians that are going to build jeeps in china. >> romney's new ad running in ohio claims that president obama took gm and chrysler into bankruptcy. interesting. because romney preferred a managed bankruptcy for the car companies. he claimed that jeeps are going to be built in china by italians. the ceo of chrysler found that whopper too much to bear and issued a statement to say, . >> who will be best for the auto industry? it may not be the guy whose car ad is full of holes. joining me from detroit is jonathan cone. >> thanks for having me on. when we talk cars, i get out my transformers and have this whole thing about president obama being optimist prime. is the car issues going to be the thing that turns ohio voters? >> it is a huge issue. in ohio, 1 of every 8 jobs is tied to the auto industry. the voters there, they understand how important the auto rescue, the obama's decision to provide chrysler and g.m. loans. they know how important that
took gm into bankruptcy and sold chrysler to italians who are going to build jeeps in china. mitt romney will fight for every american job. >> i'm mitt romney and i approved this message. >> the ad is aggressively misleading so much so that it caused panic calls from the ohio workers at chrysler jeep plants who feared their jobs are being outsourced and frommed gm and chrysler to set the record straight. the ceo of chrysler wrote an op-ed saying i feel obliged to restate our position. jeep production will not be moved from the united states to chi that. jeep assembly lines will remain in operation in the united states and will create the backbone of the brand. there was this response later in the day from gm spokesman in "the detroit free press" we've clearly entered some parallel universe during the last few days not of campaign politics at its cynical worst will diminish our jobs of jobs in the u.s. and the obama campaign worked up their own response ad and the president rebutted mitt prromne directly. >> you've got folks who work at the jeep plant who have been calling their em
are told governor romney to knock it off. gm said, we have been creating jobs in the united states should be a sort of bipartisan pride and i couldn't agree more. and i understand that governor romney has had a tough time here in ohio because he was against saving the auto industry and it's hard to run away from that position when you're on videotape saying the words, let detroit go bankrupt. and i know we're close to an election, but this isn't a game. these are people's jobs. these are people's lives. these car companies are putting a lot of effort to make great products, but also to make sure that everybody in america knows how committed they are to making cars here in america. so you don't scare hard work and americans just to scare up some votes. that's not what being president is all about. that's not leadership. when i first made the decision to rescue the auto industry, i knew it wasn't popular. and despite the fact that one out of eight jobs in ohio are connected to the auto industry in some way, it wasn't even popular here in ohio. but i knew it was the right thing to do. i knew
minutes apart with two very different stories. does this town really revolve around the gm plant? >> yes. >> no question? >> no question. >> we meant sherry gaunt in lordstown, long time gm worker and vice president of the local united autoworkers. >> look where gm is now. if the government didn't step in, might not be working, might not have a job. >> here at gm's lordstown, ohio, plant, they're cranking out the chevy cruz. they're got from one shift of 100 workers to three shifts with 4500 workers today. but like most autoworkers these days, she felt the pain of the layoffs. >> how much does it play into politics for you in this election? >> it means everything. >> everything? >> everything. we're doing real well right now. >> her coworkers told us a similar story. who are you supporting for president? >> obama. >> why? >> because he's for the working class. and he helped with the bailout. >> it speaks about his dar character, speaks about his concern for us. >> in warren, ohio, some former autoworkers are angry. >> i was one of the innovators. bruce worked for delphi for 34 years, a s
also have kay shiller coming in with home prices at the highest level since september 2010. ford and gm beat. in terms of pent-up demand, the vibe is higher. to your point on whether trading will resume normally, i talked to traders yesterday. they said it could be dipping your toe in the water meaning volume is light in the beginning to see how things actually go to make sure the connections are there. we'll see if it goes as well as they predicted. >> this is one of those days where i sure hope it goes well because we've had lots of smooth days where there's no power outages that turned into a fiasco. >> true enough. >> i want to keep fingers crossed. >> it's not just about what happens in this building. goldman sachs has generator moving on power. not every bank has every office open today. tough to get around the city right now. >> tough to get around the city. tough to get employees for many of these banks to where they need to be. a number of them -- many of them are working remotely. as you say, everybody is trying to be fully open for business. i have made a handful of calls thi
of the weather. the debates about the economy. the campaign having a tussle right now over chrysler and gm. when biden and clinton koim to youngstown they slammed mitt romney for ads calling this claim that they were moving plants and jobs overseas on production within of the most cynical political moves he has seen and raw here in the final weeks. every voting counting, the economy issue number one here in ohio. >> not often you hear like a big business speak out about a republican ad but i guess that makes gm look bad, too, right? >> no. yeah. but very unusual. they tried to stay out of it and very unusual for spokesman to unload that kind of harsh language against the romney campaign in this particular ad. >> john avalon from youngstown, ohio. today's talk back question. will sandy change the election? facebook.com/carolcnn. [ female announcer ] ready for a taste of what's hot? check out the latest collection of snacks from lean cuisine. creamy spinach artichoke dip, crispy garlic chicken spring rolls. they're this season's must-have accessory. lean cuisine. be culinary chic. that bringing yo
about that and gm today. nicole: the play-by-play, the best decision of all for everybody but we are talking about ford and gm, up arrows today and 6.5%, general motors trading upwards of 7% and both of these coming out. board yesterday and today general motors beat the street. they could see weakness in europe but this does not come as a surprise. the u.s. automakers are having a nice showing on this first day of trading. certainly a monumental opening after being closed for two days and many of these have no self service or internet service but nyse systems able to trade electronically and full force smooth opening for the new york stock exchange. when i talked with duncan neiderauer and he talked about electronic opening the truth is these big companies, goldman sachs and j. p. morgan would have to bring in someone somewhere even if we were trading electronically and just for keeping people lot of harm's way is what he meant when he talked about it being irresponsible to open any earlier than today. the pricing and trading done well but you need some human electronic trading w
took gm into bankruptcy and sold chrysler to italian who is are going to build jeeps in china. >> of course it turns out it's not true. the company ceo told governor romney himself knock it off. >> reporter: the squabble over that spot has made headlines here in ohio, the obama campaign hit back on air. >> politics at its cynical worst. >> reporter: on a stump the president is casting it as part of a larger message. >> massaging the facts when they're inconvenient to your campaign, that's definitely not change. that's the oldest trick in the book. yeah. that's what governor romney's been doing these last few weeks. and i know what real change looks like because i've fought for it. right along side you. and after all we've been through together, we sure can't give up now. >> report from cnn's jessica yellin. she's with the president in lima, ohio, right now. we'll speak with her later. we have reporters all over the country right now getting ready for tuesday's election. they're in all the key battleground states. much more coming up from all of these reporters. meanwhile, the
's getting a lot of criticism from many different kinds of entities. first, listen. >> obama took gm and chrysler into bankruptcy. and sold chrysler to italians who are going to build jeeps in china. >> really? after all that federal bailout money, it's china that will get all the jobs? right away, the white house unleashed its attack dogs. >> they're running the most scurrilous ad in ohio. they assert that president obama forced chrysler into bankruptcy so the italians could take over chrysler. and ship jeep manufacturing to china. that's what the ad says. that's what the ad said. it's an outrageous lie. >> don avalon is a cnn contributor who also serves as a senior political columnist for "ne "newsweek" and the daily beast. joining from us youngstown, ohio. i know you've done a lot of reporting on this issue. is the ad inaccurate? >> reporter: the ad is inaccurate, but it really is resonating here in ohio, and not in a good way for the romney campaign. a lot of voters i've spoken to, they've heard about the ad, they've seen it and understand it's an attempt to muddy the waters and
companies gm and chrysler to foreign. nowhere in the ads does it mention romney opposed the auto bailout. gm officials blasted the spot to a detroit newspaper saying no amount of campaign politics at its cynical worst will diminish our record of creating jobs in the u.s. and repate rating properties back to this country. polls receiving high marks for his handling of superstorm sandy, it's unclear how much the race has changed. hoping to recapture the momentum he had before the storm, romney recycled a line of attack he used presandy. >> he's been out talking about how he's going to save big bird and then playing silly word games with my last name, or first. and then attacking me day in and day out. >> reporter: the storm also interrupted romney's closing argument which he was supposed to start delivering last monday. instead, he has five days left to make his case against a president who has emerged from sandy perhaps now tougher to beat. wolf. >> jim acosta on the campaign trail with mitt romney. devastated barely begins to describe what happened to staten island, new york, in the wake of
. attorney general, as i remember, mitt romney wrote that op ed and said essentially the gm should go through a managed bankruptcy, which they did, which the president says that's essentially what saved the car industry. mr. attorney general? >> couple of things. first of all, ohio's recovery, if you look at the statistics, we've really not had the growth in the auto industry. what we've had is the growth as far as new jobs being created, in other areas. auto industry certainly is very, very important for the state. i don't think there is an area where the obama campaign is exaggerated more or misled more than on this issue. if you look back at the facts, what you had is a situation where governor romney said we needed federal intervention. he wanted to do it differently. the obama administration ended up taking detroit into bankruptcy. so for them to say that obama did not want to do that or that they had a different point of view, romney didn't want to do that is absolutely crazy. >> steve: governor, the fine word. >> the governor's own department of don't had just put -- development had ju
, this was -- woody's going to have to do something. the gm's going to be fired. and i'll tell you, rex either plays ball with him or rex is going to have to go. >> he didn't bring tim tebow in to cover punts. >> helmet on the entire time. >> valerie jarrett next. >> rex ryan has a problem with tim tebow. play him or trade him. >> valerie jarrett next. ♪ [ construction sounds ] ♪ [ watch ticking ] [ engine revs ] come in. ♪ got the coffee. that was fast. we're outta here. ♪ [ engine revs ] ♪ >>> welcome back to "morning joe." a live look at the capitol. and boy, mika, washington is going to get absolutely hammered. >> hammered. >> hammered. jersey is. all up and down the coast. we'll see what happens. >> two things about this, the storm surge, obviously, not looking like it's going to be backing off, but also the length of this storm. once it hits, it doesn't go away for quite some time. >> it's going to go for a while. >> it's going to be grueling. >> i think in the northeast the storm surge will probably be the worst coming into the city. i'd be surprised if a good chunk of lower manhatt
be with gm or ford for your entire career, people realize it is not as clear and they're open to more open opportunities. some of it is getting the people have that innovative spirit to recognize now there is an opportunity with the company is developing here. maybe it is time to jump ship. but more importantly, how do you get the folks who left to try to come back here? i'm sure there are tens of thousands of people born and raised here or who went to one of the universities who would love to come back. they decided to leave. it really is all about talent. it is the idea plus capital, but the most important ingredient is talent. >> the most important agreement is training and education. another community that is of great interest and concern is not only the people working at these great companies but the people who are not working at all. detroit has way too many of them. i'm curious with the processes for the marginalized and here to for disenfranchised population of detroit. a quick comment from you -- what do you think is going to happen and what do you think should happen? >> if the e
Search Results 0 to 49 of about 54 (some duplicates have been removed)

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